South Korea’s Hyundai Fire & Marine Insurance is offering a policy to the country’s restaurants, hotels, and other commercial businesses designed to cover damages caused by “hooligans” during Soccer’s World Cup Competition, which begins at the end of May.
The tournament, which is being co-hosted by Korea and Japan, will bring together 32 national teams from from all over the world for a five week playoff to determine the best team. It will also see a flood of supporters arriving in the countries to cheer on their side.
Unfortunately previous tournaments have seen the the cities in which the games are played become the site of numerous fights and disturbances by the fans, popularly dubbed “hooliganism.” Shopkeepers and property owners are therefore worried about the damages that a minority of unruly supporters may cause.
Hyundai’s policy has limits of 50 million won (around $3.65 million) in coverage for hooligan related violence, which causes property damage. So far the company said it has sold around 1000 policies, but as the date for the start of the tournament approaches it’s been receiving a greatly increased number of inquiries about the coverage.
Was this article valuable?
Here are more articles you may enjoy.